Bitmap proxies created by Max make all white alpha

[jonahhawk]

When I create bitmap proxies from tif or targa images, the proxy images that Max creates have an entirely white alpha.

Has anyone run into this issue before?

It was working. I don't know what has changed. We were having this same problem with tifs and thought it was a format issue with Max. So we batch converted about a thousand people images to targa.(and batch scripted all the materials to swap images) Now it's happening with targa as well...